[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3828 Introduced in House (IH)]







109th CONGRESS
  1st Session
                                H. R. 3828

   To amend the Internal Revenue Code of 1986 to allow individuals a 
 credit against income tax of at least $500 to offset the cost of high 
                 2005 gasoline and diesel fuel prices.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 20, 2005

  Mr. Chabot introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to allow individuals a 
 credit against income tax of at least $500 to offset the cost of high 
                 2005 gasoline and diesel fuel prices.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Gasoline Price Relief Act of 2005''.

SEC. 2. CREDIT AGAINST INCOME TAX TO OFFSET COST OF HIGH 2005 GASOLINE 
              AND DIESEL FUEL PRICES.

    (a) In General.--Subchapter B of chapter 65 of the Internal Revenue 
Code of 1986 (relating to abatements, credits, and refunds) is amended 
by adding at the end the following new section:

``SEC. 6431. NONREFUNDABLE CREDIT TO OFFSET COST OF HIGH 2005 GASOLINE 
              AND DIESEL FUEL PRICES.

    ``(a) Allowance of Credit.--In the case of an eligible individual, 
there shall be allowed as a credit against the tax imposed by chapter 1 
for the taxpayer's last taxable year ending in 2005 the amount of $500 
($1,000 in the case of a joint return).
    ``(b) Definitions.--For purposes of this section--
            ``(1) Eligible individual.--
                    ``(A) In general.--The term `eligible individual' 
                means any individual to whom is registered under State 
                law any qualified highway vehicle.
                    ``(B) Exceptions.--Such term shall not include--
                            ``(i) any estate or trust,
                            ``(ii) any nonresident alien individual, 
                        and
                            ``(iii) any individual with respect to whom 
                        a deduction under section 151 is allowable to 
                        another taxpayer for a taxable year beginning 
                        in the calendar year in which the individual's 
                        taxable year begins.
            ``(2) Qualified highway vehicle.--
                    ``(A) In general.--The term `qualified highway 
                vehicle' means any highway vehicle fueled in whole or 
                in part by gasoline or diesel fuel.
                    ``(B) Exception for business vehicles.--Such term 
                shall not include any vehicle all of the use of which 
                is in any trade or business.
    ``(c) Credit Treated as Nonrefundable Personal Credit.--For 
purposes of this title, the credit allowed under this section shall be 
treated as a credit allowable under subpart A of part IV of subchapter 
A of chapter 1.''.
    (b) Clerical Amendment.--The table of sections for such subchapter 
B is amended by adding at the end the following new item:

``Sec. 6431. Nonrefundable credit to offset cost of high 2005 gasoline 
                            and diesel fuel prices.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years ending during 2005.
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